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File #: 18-0011 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 6/1/2018 In control: Community Redevelopment Agency
On agenda: 6/11/2018 Final action:
Title: DELRAY BEACH COMMUNITY LAND TRUST - 2nd Quarter FY 2017-18 A-Guide Report
Attachments: 1. Agenda Cover Report, 2. DBCLT A-Guide Report
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO:                                    CRA Board of Commissioners

FROM:          Joan K. Goodrich, Economic Development Director

THROUGH:                     Jeff Costello, CRA Executive Director                     

DATE:                              June 11, 2018

 

Title

DELRAY BEACH COMMUNITY LAND TRUST - 2nd Quarter FY 2017-18 A-Guide Report

 

Body

Recommended Action:

Recommendation

Receive and file.

 

Body

Background:

The CRA awarded the DBCLT a $194,700 A-GUIDE grant which represents 25% of the DBCLT’s $777,050 annual budget.  The A-Guide grant focuses on affordable housing and was awarded specifically to: 

1)                      Develop housing units for very-low to moderate income households (Sustainable Homeownership Services); and

2)                      Provide affordable rental units that meet the needs of households within the CRA target area (Rental Housing)

 

Below are highlights and a snapshot from the CLT’s 2Q FY 2017-18 report ending March 31, 2018.

 

Delray Beach Community Land Trust Highlights from Evelyn S. Dobson, Chief Executive Director

See attached letter dated April 30, 2018.

 

Program Snapshot: Sustainable Homeownership Services & Rental Housing

Funding Amount: $194,700                     Program Budget: $777,050                     % of Budget:  25%

 

Select Key Program Metrics

Annual Total

2Q Totals

Year to Date Totals

Total Homebuyer Applications

10

4

10

New Certificates of Occupancy

5

0

1

Executed Purchase & Sale Contracts

5

2

4

Vacant Lots Acquired for New Single-Family

3

0

3

Total Homeownership Education Attendees

50

17

41

Developer Fee Income

$49,500

$20,277

$20,277

Rental Housing Lease Agreements

42

8

17

Annual Rental Housing Income

$150,460

$116,525

$236,817

 

Attachment(s): Delray Beach Community Land Trust 2Q FY 2017-18 A-Guide Report

CLT Quarterly Newsletter

 

CRA Attorney Review:

N/A

 

Finance Review:

N/A

 

Funding Source/Financial Impact:

CRA G/L #:  7376 A-Guide Funding

 

Timing of Request:

N/A